Analysts at GARP Research began coverage on shares of Mitel Networks (NASDAQ:MITL) (TSE:MNW) in a research note issued on Tuesday. The brokerage set a “buy” rating on the communications equipment provider’s stock.

MITL has been the subject of a number of other research reports. Royal Bank of Canada reiterated a “hold” rating and set a $8.50 target price on shares of Mitel Networks in a research note on Thursday, November 2nd. TheStreet cut shares of Mitel Networks from a “b” rating to a “c” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Mitel Networks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Craig Hallum assumed coverage on shares of Mitel Networks in a research report on Thursday, December 14th. They issued a “buy” rating and a $14.00 price target for the company. Finally, National Bank Financial boosted their price target on shares of Mitel Networks from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.17.

Mitel Networks (NASDAQ:MITL) opened at $7.97 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.77 and a current ratio of 1.00. Mitel Networks has a 12 month low of $6.21 and a 12 month high of $9.13.

In other news, major shareholder Associates L.P. Elliott sold 350,475 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $8.25, for a total value of $2,891,418.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard D. Mcbee bought 10,000 shares of Mitel Networks stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average cost of $8.00 per share, with a total value of $80,000.00. Following the completion of the acquisition, the insider now directly owns 268,047 shares of the company’s stock, valued at approximately $2,144,376. The disclosure for this purchase can be found here. Over the last three months, insiders sold 355,719 shares of company stock valued at $2,933,192. 16.50% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP raised its holdings in shares of Mitel Networks by 353.2% in the third quarter. GSA Capital Partners LLP now owns 383,786 shares of the communications equipment provider’s stock valued at $3,220,000 after buying an additional 299,108 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Mitel Networks in the third quarter valued at about $8,172,000. Allianz Asset Management GmbH purchased a new stake in shares of Mitel Networks in the third quarter valued at about $146,000. OxFORD Asset Management LLP raised its holdings in shares of Mitel Networks by 890.1% in the third quarter. OxFORD Asset Management LLP now owns 762,620 shares of the communications equipment provider’s stock valued at $6,334,000 after buying an additional 685,592 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Mitel Networks in the third quarter valued at about $554,000. 80.05% of the stock is owned by institutional investors and hedge funds.

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About Mitel Networks

Mitel Networks Corporation is a provider of business communications and collaboration software, services and solutions. The Company’s segments include Cloud and Enterprise. The Enterprise segment sells and supports products and services for premise-based customers. The Cloud segment sells and supports products that are deployed in a cloud environment.

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